I saw a presentation last year at a conference with a top Realtor from out of state.  This speaker made the point that marketing should not be at the core of your value proposition.  I had never really thought of it that way, but I agree completely.

I recently lost a listing to another agent. Its been almost 6 months and the listing has not sold. The seller called me recently considering a change. They let me know they chose the other agent because the had a better “presentation” as it pertained to marketing. Within 24 hours of my explanation of the market and why they hadn’t sold, they lowered their price. Actually, they lowered it to the price I recommended 6 months ago. Its unfortunate because they completely missed the best 2 or 3 months to sell a home that we have seen in a while.

Marketing is important, but its not where I try to differentiate myself.  I work hard to make sure I understand all the ways to get information to buyers right now, but I don’t spend much time on it. Its so fundamental to the process, its like putting a lockbox on the house and putting in the MLS. You have to do it and you have to present the home as well as you can. I try to differentiate myself by displaying an expertise related to market conditions, the transaction, the negotiation, and a network of resources to acheive my clients’ goals.  I work hard on analysis that will show my clients what they need to know to make good decisions.  If presented correctly, the data speaks for itself.  I don’t tell the client what they want to hear. I tell them what they need to hear. I do my best to help them sell their home in the shortest amount of time, for the most money, without any legal entanglements.

It does not bother me that I didn’t get this particular listing. Its just business and people need to do what they think is best for them. However, I don’t like to see people miss the market and ultimately take longer to sell for less, when it was very likely avoidable.

If you need to interact with this market, make sure you are seeking competent advice to help you achieve YOUR goals.

I’m often asked how long the new home construction process will take, and when I tell people 120 days from contract, many are surprised.  Seeing the progress made on this home in just 1o weeks,  you can start to understand there’s a process and level of supervision that yields a shorter process without sacrificing quality. (Not too mention its basically a custom home as well.) In this video you’ll see light fixtures, granite, appliances, hardwood flooring, exterior steps, and a few other items. This home is significantly complete.  Check back for a closer look at the kitchen with Amy Hart from Reico.

The inventory of new homes ready to occupy is very low in Albemarle County.  In the past, the number of new homes under construction for sale averaged over 200. After a steady decline for a couple of years, we are seeing this number hang around the mid 60′s. Piedmont Realty and Construction has two homes for sale and ready to occupy. Its a bit of a rare opportunity with Piedmont, so I thought I would share the tours. They are both located in Belvedere and I will be there from 11-5 today showing them. I love to meet new people and all things Charlottesville, new construction, and energy efficiency.

With a new Parade Entry under construction, Piedmont is ready to sell there original model depicted in this tour. Featuring a full unfinished basement, walk up third floor for expansion, and a two car garage. $374,900.

Just completed and ready to occupy as well another version of  The Westwood with all of the exceptional Piedmont standard finishes plus a variety of well chosen upgrades. $349,900

Perusing all of the preseason information circulating in anticipation of the start of college football season, I come across some interesting stuff.  I get a little tired of all of the predictions, but it comes with the territory in today’s media.

The link below was an article that caught my attention.  I would never admit this in real life, but the thought of the Wahoos with a chance to play spoiler at season’s end is not a pleasant one for this Hokie in Hooville. I’ve already been advised by one Wahoo that since they have nothing to get excited about in Hooville, the only thing they look forward to is Va Tech not living up to the preseason hype.

Two Games Outside the Big 4 to Worry About

This video documents the progress of Week 9 of construction.  It marks a very important stage of the process. Cosmetic finishes start to appear and the homeowner gets to the see their selections start to give the home its feel.  In this video, cabinets arrive, ceramic tile is installed, custom built ins and shelving are installed, and mechanical finals begin.

The pantry in this home is amazing and is an example of how this process can create spaces that fit they way people live.  Its a pretty good feeiling to move into a home that is exactly what you want and need for your lifestyle. Its very rewarding and a result of the collaborative process created by Piedmont Realty and Construction.

I was contacted by NBC29 this past week to share my thoughts on the market. The reporter was equipped with the year over year stats for the month of July and interested in my thoughts on why sales were down so much from a year ago.  It’s true. The sold data for July 2010 is much lower than July 2009.  I appreciate the attempt of the newspapers and television stations to report on the market, but I’ve never found that these media outlets  do the topic justice and can often be misleading. ( I also don’t like to have my comments edited and framed by the interviewer after the fact.)

For example, although July sales were off, June 2010 sales were significantly up. I’m not sure that means much either. Since the downturn in the economy, not much has been normal.  In the absence of a period of data that is uninfluenced by historically major events within the economy, forecasting remains challenging.

Forecasting demand is important in trying to determine an absorption rate. This type of analysis can be very important when pricing a home. Taking into consideration how many sales may occur over a period of time and putting your home in a position to be one of those sales is vital to success. This is one example of the more specific analysis I provide my clients.

As for the bigger picture, here’s what we know. 2009 started slow and showed signs of improvement throughout the year. 2010 started stronger and sales activity has decreased since the expiration of the tax credit.  As of the end of July, closed transactions in Albemarle County are up 15% as compared to the same period in 2009.  It will be interesting to see how the year finishes up, but its likely for our market that 2009 and 2010 will look the same or nearly the same in terms of the number of sales. (The city of Charlottesville is the exception.)

The challenge I find is a point of reference to measure these numbers against. The real estate market has been unbalanced for the last several years and remains unbalanced now.  I think the rest of this year will be very interesting to anyone who follows our local real estate market.

So what does all of this mean? The economic stimulus had a significant impact on our market. Low interests combined with the tax credit caused the release of some pent up demand from2008/2009. We will need to continue to watch the median area price and inventory levels. Until the inventory is significantly reduced, there will be downward pressure on property values.

All of the macroeconomic analyisis aside, if you need to interact with this market in the near future, seek competent advice. Collect information pertinent to your situation and use this information to make a decision that rights for YOU.

My basic advice to potential buyers: Make sure buying is the right decision for you. Educate yourself to what it means to buy a home and what is available in your price range. Follow some of these properties to see how fast they sell and at what price they sell. There are opportunities in this market.

My basic advice to potential sellers: Price your home correctly to start. This is the mistake that could hurt you the most, especially if you really need to sell. If you don’t need to sell right now, consider not putting your home on the market.

So the polls are out and the buzz for the start of college football season is all around us.

USA Today Coaches Poll

I’m not much on trying to predict the outcome for the season at this point time.  I’d rather enjoy the ride, week by week.

Like most Hokies, I am super excited for the kickoff of the season at Fedex Field when the Hokies take on #5 Boise State.

I came across a cool web site last year. This Hokie has extreme video skills and provides lots of entertainment through out the year. Check out his two preview videos for this game at www.hokiehighlights.net. Some very fine work.

Week 8 saw the the exterior really come together as the siding was installed and the stone work was mostly completed.  Piedmont uses a pre-colorized James Hardie siding. On the inside, trim went up and painting started.  Check this out and get ready for the kitchen, built ins, and tile work next week.

I was flattered to run into a colleague the other day and have them say…”Let’s Build a Home… Together!” It made my day. That’s the title of the series of videos I am posting to document the new home construction process during the construction of a home by  Piedmont Realty and Construction.

I have a lot of conversations with people about how to evaluate the different communities, floor plans, and builders in the decision making process. Choosing the right builder is critical.  Its easy to take a floor plan, a pretty rendering, some option pricing and come up with a plan.  Its the execution of these plans where I think some builders distinguish themselves. That leads me to the point of this post. When building a home, you are going to have a relationship with your builder and their team. Its important to understand who is on this team and how they will interact with you during the process.  Regardless of the quality of the home, at the end of the process, that relationship can impact the overall result and your feelings toward the home.

In my opinion, this is where Piedmont has distinguished themselves in the marketplace. Drew Holzwarth has assembled and exceptional team that executes their plan and interacts with their customers. They are all very experienced and highly skilled. But that’s not it. They all love what they do. They genuinely get excited for each home they build. They appreciate what it represents to their customers. They work hard to make sure the customer has a good experience and try to have fun doing it. (Contrary to the myth that building a home is always a horror story.)

My point…they don’t just build homes for their customers, they build  homes WITH their customers. Don’t take it from me, ask one of their homeowners. (Always ask a builder you are considering to provide homeowner references.)

If you are interested in opportunities in the Charlottesville area for new construction, contact me. I would love to share everything I know about our area’s new communities, our local home builders, and the process, so you can make a decision that’s right for you.

Just a quick update for Week 7.  Sheetrock process begins and exterior stonework continues. Note the detail work on the porches and the stone work. These are areas where Piedmont separates themselves from their competition.